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The Australian sharemarket has opened higher.

At 7.30am, the benchmark S&P/ASX200 index was up 8.5 points, or 0.19 per cent, at 4490.4, while the broader All Ordinaries index was up 8.1 points, or 0.18 per cent, at 4510.1.

On the ASX 24, the December share price index futures contract was up 12 points at 4491, with 7174 contracts traded.

In economic news today, the National Australia Bank's monthly business survey for September is due out.

Reserve Bank of Australia deputy governor Philip Lowe is scheduled to speak at the Financial Services Institute of Australasia (FINSIA) lunch in Hobart while speakers at the Australian Business Economists forum in Sydney include Westpac chief economist Bill Evans, JP Morgan Fixed Income Strategist Sally Auld, RBC senior economist Su-Lin Ong, Colonial First State's Head of Investment Markets Research Stephen Halmarick.

In equities news, Victory Mining Ltd is due to list on the ASX and Collins Foods holds its annual general meeting in Brisbane.

In Australia, the market on Monday closed lower in cautious trading.

The benchmark S&P/ASX200 index fell 12.5 points, or 0.28 per cent, to 4,481.9 points, while the broader All Ordinaries index was off 11.8 points, or 0.26 per cent, at 4,502.0 points.